Lamda Development: 2 Foreign Funds Acquire 3.2% Stake from Voxcove

Two investments funds based outside of Greece but with a presence in the country are, according to reports, the buyers of a 3.2%-stake in Lamda Development, a pre-eminent property developer and commercial mall operator in the country.

According to a report in ot.gr, the three separate blocks of shares were sold off on Monday by Voxcove Holdings. In total, 5.75 million shares changed hands for a consideration of 39.1 million euros.

Sources told ot.gr that the transaction was achieved with a 3% discount, deemed as a reasonable rate given the size of the latter.

Sources also told ot.gr that the investment vehicle Voxcove will remain the second largest shareholder of Lamda Development, even after the 3.2% sell-off. Voxcove had first placed capital in Lamda shares at the end of 2017, acquiring a 13%-stake in the ATHEX-listed company.

Source: Tovima.com